Western Digital Turns In an Adequate 2Q as It Benefits From Favorable Trends in NAND
No-moat Western Digital reported fiscal second-quarter results in line with our expectations. The firm has benefited immensely from the favorable industry dynamics in NAND flash storage, similarly to its peers. While management echoed market sentiments for NAND bit supply growth in the 35%-45% range, we think the firm’s hard-disk drive, or HDD, exposure remains a headwind, despite recent stabilization. Furthermore, we’ve already seen pricing declines in NAND in recent months, which could begin a...Western Digital is a developer, manufacturer, and provider of data storage devices and solutions. The company's portfolio of technology and products address the following markets: Client Devices, which consist of hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, flash-based embedded storage products, and flash-based memory wafers and components; Data Center Devices and Solutions, which consist of enterprise HDDs and enterprise SSDs, data center software and system solutions; and Client Solutions, which consist of HDDs and SSDs embedded into external storage products and removable flash-based products, such as cards, universal serial bus flash drives and wireless drives.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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